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VietNamNews

Trades mixed before holiday

Update: January, 18/2012 - 09:29

 

An investor checks the digital board at the offices of Bao Viet Securities Co. — VNA/VNS Photo Viet Thanh
HA NOI — Shares fell on the Ha Noi Stock Exchange yesterday, with the HNX-Index losing 0.8 per cent of its value from the previous day's session before concluding the day at 56.55 points.

The value of trades on the Ha Noi bourse decreased 18.7 per cent to VND158.1 billion (US$7.5 million) on a volume of nearly 19.4 million shares. Decliners outnumbered advancers by 121-85.

VNDirect Securities Co (VND) surpassed Kim Long Securities (KLS) to become the most-active share with around 2.1 million changing hands.

"Investors had hoped KLS would improve during today's session due to its positive earnings report, but it didn't happen," said Bao Viet Securities Co analyst Pham Van Khoa.

On the HCM City Stock Exchange, the VN-Index began to lose gains towards the end of the session, finally closing at 358.86, a mere 0.3 per cent increase over Monday.

Volume plunged by nearly 57 per cent to just VND348.76 billion ($16.6 million) as volume reached 23.7 million shares. Losers outnumbered gainers by 125-91.

Among blue chips, insurer Bao Viet Holdings (BVH) and Vietinbank (CTG) hit their ceiling prices, but the majority of large-cap shares retreated or closed unchanged. Food processor Masan Group (MSN) was at its ceiling price mid-way through the session but eventually closed down 2 per cent.

Along with software giant FPT, MSN and CTG were heavily favoured by foreign investors.

"Only a year ago, the VN-Index and investor psychology were able to reflect positive signals from foreign investors when they placed buy orders on blue chips," Khoa said. Now, such activity only shifted technical indictors, he said, predicting the HCM City market would remain in a modest rally until the end of the week.

Foreign investors were net buyers on both bourses yesterday, picking up shares worth a combined net of VND115 billion ($5.5 million). Net buys of software giant FPT (FPT) alone accounted for VND170 billion ($8.1 million) of this figure. — VNS

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